Türkiye seeks to boost trade ties with Brazil: Minister Bolat

ANKARA

Türkiye sees Brazil as a gateway to South America and aims to further strengthen economic ties between the two countries, Trade Minister Ömer Bolat has said.

Currently, Brazil is Türkiye’s largest trading partner among Latin American and Caribbean countries, Bolat said, speaking at the ceremony in Ankara marking Brazil’s National Day.

The bilateral trade volume reached $5 billion last year, according to the minister.

Bolat noted that the two countries also have important cooperation in mutual investments, adding that Turkish investments in Brazil have reached $50 million, while Brazil's investments in Türkiye are around $600 million.

The minister underlined the need to encourage Turkish and Brazilian companies to invest in sectors such as agriculture, animal husbandry, civil aviation, automobiles and energy, and said that Turkish contracting companies could play an active role in providing world-class infrastructure services in Brazil.

“Regional and global political and economic risks make it clear that more cooperation is needed than ever, especially between countries like Türkiye and Brazil,” Bolat said, noting that Türkiye and Brazil are among the world's top 20 economies and have enormous potential for each other.

Bolat said that he will visit Brazil in October for the G20 Heads of State and Government Summit, adding that he would like to have talks with his counterpart to further advance economic relations between the two nations.

“New projects can be developed, including the establishment of joint ventures in third countries, and logistics networks can be diversified,” the minister said.